Slide 1: Full-Year 2024 Record Performance
Parque La Mexicana - Urban park in Mexico City built with Fuerte high-strength cement FULL-YEAR 2024 RECORD PERFORMANCE MILJAN GUTOVIC – CEO | STEFFEN KINDLER – CFO FEBRUARY 28, 2025
Slide 2: Highlights and Key Developments
01. HIGHLIGHTS AND KEY DEVELOPMENTS MILJAN GUTOVIC | CEO Wood Wharf, London, UK built with ECOPact with construction demolition materials inside
Slide 3: 2024 Highlights: Record Performance
2024 HIGHLIGHTS RECORD PERFORMANCE Delivering record 2024 results Further expanding industry-leading margin • Recurring EBIT of CHF 5’049 million, • 36% of Net Sales from advanced branded solutions up 10.8% in LC and 6.1% in CHF • 20% growth in recycled construction demolition • Industry-leading mar
Slide 4: Quarter-on-Quarter Profit Growth and Margin Expansion
DELIVERING RECORD RESULTS QUARTER-ON-QUARTER PROFIT GROWTH AND MARGIN EXPANSION 12M ROLLING RECURRING EBIT AND MARGIN 19.1% 18.8% 18.4% 17.9% 17.6% 17.4% 16.8% 5'049 16.3% 5'000 4'926 4'799 4'760 4'671 4'631 4'622 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2023 2023 2023 2024 2024 2024 2024 Recurring EBIT Recurri
Slide 5: Continued Growth in Earnings
DELIVERING RECORD RESULTS CONTINUED GROWTH IN EARNINGS EARNINGS PER SHARE up 5% vs 2023 In CHF, before impairment and divestments •+14% a2 CAGR 5.42 5.70 4.96 3.98 3.37 3.07 2.63 2018 2019 2020 2021 2022 2023 2024 The Lakeside Project office complex in Warsaw, Poland, built using ECOPact with recycl
Slide 6: Free Cash Flow at New High of CHF 3,801 Million
DELIVERING RECORD RESULTS FREE CASH FLOW AT NEW HIGH OF CHF 3’801 MILLION FREE CASH FLOW up 3% vs 2023 in CHF million 3'801 3'705 3'544 3'264 3'249 3'019 1'703 2018 2019 2020 2021 2022 2023 2024 Cash Conversion - Free Cash Flow divided by Recurring EBITDA (after leases) 28% 49% 58% 50% 54% 58% 57% G
Slide 7: Industry-Leading EBIT Margin of 19.1%
DELIVERING RECORD RESULTS INDUSTRY-LEADING EBIT MARGIN OF 19.1% RECURRING EBIT MARGIN ✓ Scaling up sustainable building solutions with growing multi-billion CHF 19.1% brands • a2 +535bps ✓ Decarbonization and circular construction driving profitable growth 17.6% 17.2% ✓ Successful expansion of Solut
Slide 8: Growing Multi-Billion Brands to Meet Customers' Needs
EXPANDING INDUSTRY-LEADING MARGIN GROWING MULTI-BILLION BRANDS TO MEET CUSTOMERS’ NEEDS 36% OF NET SALES FROM ADVANCED BRANDED SOLUTIONS (vs 30% in 2023) A “3+ Billion CHF” A “1.5+ Billion CHF” Leader in circular construction Brand Brand 10.2 Mt, +20% recycled 26% of Cement Net Sales 29% of Ready-mi
Slide 9: Meeting Customer Demand for Sustainable Building Solutions
EXPANDING INDUSTRY-LEADING MARGIN MEETING CUSTOMER DEMAND FOR SUSTAINABLE BUILDING SOLUTIONS 29% 26% 19% 19% 13% 7% 2021 2022 2023 2024 2022 2023 2024 Launched in A “1+ Billion A “1.5+ Billion Launched in A “2+ Billion A “3+ Billion 24 markets CHF” Brand CHF” Brand 27 markets CHF” Brand CHF” Brand 9
Slide 10: Scaling Up Sustainable Building Solutions
EXPANDING INDUSTRY-LEADING MARGIN SCALING UP SUSTAINABLE BUILDING SOLUTIONS O U R C U S T O M E R S ' S U P P L I E R O F C H O I C E F O R S U S TA I N A B L E C O N S T R U C T I O N Leading in Repair and Refurbishment Advanced manufacturing Enabling sustainable social housing European Patent Offi
Slide 11: Circular Construction Driving Profitable Growth
EXPANDING INDUSTRY-LEADING MARGIN CIRCULAR CONSTRUCTION DRIVING PROFITABLE GROWTH Recycled construction Number of demolition materials (in Mt) recycling centers Driving profitable growth +18 • Recycled construction +20% demolition materials reaching 10.2 Mt, or >2’000 truck loads per day • 4 highly
Slide 12: Continued Momentum with Value-Accretive Transactions
EXPANDING INDUSTRY-LEADING MARGIN CONTINUED MOMENTUM WITH 27 VALUE-ACCRETIVE TRANSACTIONS 18 acquisitions BOLT-ONS Europe. Land Recovery UK | CDM, AGG 4 acquisitions Mendiger Basalt Cand-Landi SOLUTIONS Germany | CDM 1, Switzerland | CDM, AGG AGG, RMX & PRODUCTS Mark Desmedt CemEnergy North America
Slide 13: Empowered Leadership with Strong Performance Culture
EXPANDING INDUSTRY-LEADING MARGIN EMPOWERED LEADERSHIP WITH STRONG PERFORMANCE CULTURE Deeply embedded performance culture with 500+ P&L leaders empowered for customer-centric decision making Transparent and accountable performance management with focus on Group targets Proven track record in value-
Slide 14: Financial Highlights
02. FINANCIAL HIGHLIGHTS STEFFEN KINDLER | CHIEF FINANCIAL OFFICER Located at the Holcim Innovation Center in Lyon, the Holcim Innovation Hub showcases our cutting-edge solutions and brings stakeholders together to accelerate sustainable building
Slide 15: 2024 Net Sales Bridge
2024 NET SALES BRIDGE NET SALES GROWTH IN LOCAL CURRENCY OF +1.3% +1.3% CHF m in LC 27’009 40 306 26’407 -948 +0.2% +1.1% 2023 Organic Growth Acquisitions & Divestments FX 2024 15
Slide 16: Recurring EBIT of CHF 5,049 Million
2024 RECURRING EBIT BRIDGE RECURRING EBIT OF CHF 5’049 MILLION, UP 10.8% IN LC AND 6.1% IN CHF +10.8% CHF m in LC 18 -227 5’049 498 4’760 +10.5% +0.4% 2023 Organic Growth Acquisitions & Divestments FX 2024 +6.1% 16
Slide 17: Continued Strong EBIT Increase in Q4
QUARTERLY SALES AND EBIT GROWTH CONTINUED STRONG EBIT INCREASE IN Q4 NET SALES AND RECURRING EBIT GROWTH1 17.1% 11.4% 9.9% 9.1% 3.4% 0.5% 1.6% 0.2% Q1 24 Q2 24 Q3 24 Q4 24 Net Sales Recurring EBIT 1 Natural History Museum (London, U.K), Urban Nature Project 17 In local currency winner at Holcim Foun
Slide 18: 2024 Segment Performance
2024 SEGMENT PERFORMANCE STRONG EARNINGS PROFILE WITH BROAD-BASED GROWTH North America Latin America Europe Asia Middle East & Africa Solutions & Products -2.8% -0.1% +7.4% +3.2% +4.0% +12.2% +9.7% +12.1% +11.7% +17.6% 6’360 1’624 2’882 1’044 7’198 1’335 3’612 878 5’915 707 NET SALES RECURRING EBIT
Slide 19: North America: Record Recurring EBIT Margin
NORTH AMERICA RECORD RECURRING EBIT MARGIN 2024 CHF m -2.8% in LC Net Sales1 6’360 -5.2% Recurring +12.2% in LC 1’624 EBIT +9.5% 1 Net Sales to external customers Double-digit recurring EBIT 200+ infrastructure projects growth in challenging market secured conditions Expansion of recurring EBIT Infr
Slide 20: Latin America: Outstanding Recurring EBIT Margin
LATIN AMERICA OUTSTANDING RECURRING EBIT MARGIN ACHIEVED 2024 CHF m +4.0% in LC Net Sales1 2’882 +0.7% Recurring +9.7% in LC 1’044 EBIT +6.0% 1 Net Sales to external customers 18th consecutive quarter of 4 synergistic acquisitions; profitable growth expansion in Peru and Guatemala Record recurring E
Slide 21: Europe: Sustainable Building Solutions Driving Growth
EUROPE SUSTAINABLE BUILDING SOLUTIONS DRIVING PROFITABLE GROWTH 2024 CHF m -0.1% in LC Net Sales1 7’198 -1.2% Recurring +12.1% in LC 1’335 EBIT +11.0% 1 Net Sales to external customers Record recurring EBIT 13 bolt-ons to accelerate up double-digit +12.1% in LC profitable growth Expansion of recurri
Slide 22: Asia Middle East & Africa: Strong Margin Expansion
ASIA MIDDLE EAST & AFRICA STRONG MARGIN EXPANSION 2024 CHF m +3.2% in LC Net Sales1 3’612 -9.3% Recurring +11.7% in LC 878 EBIT2 -2.3% 1 Net Sales to external customers 2 Contribution from share of net income from JVs: CHF 229 m in 2024 vs. CHF 252 m in 2023 Profitable growth led by 4 divestments cl
Slide 23: Solutions & Products: Profitable Growth Continues
SOLUTIONS & PRODUCTS PROFITABLE GROWTH CONTINUES 2024 CHF m +7.4% in LC Net Sales1 5’915 +5.5% Recurring +17.6% in LC 707 EBIT +15.2% 1 Net Sales to external customers Strong Net Sales increase 4 acquisitions expanding driven by advanced roofing commercial and residential systems offering Double dig
Slide 24: Continued Growth in Earnings Despite Strong CHF
RECORD PERFORMANCE IN 2024 CONTINUED GROWTH IN EARNINGS DESPITE STRONG CHF CHF +9.2% +5.3% -5.6% 12.3% 1.9% -2.4% -10.3% -1.0% 16.5% 4.9% -1.9% 5.70 5.42 4.96 EPS* Organic FX on Financial, Share EPS* Organic FX on North America Financial, Share EPS* 2022 EBIT EBIT Tax & Others buybacks 2023 EBIT EBI
Slide 25: Record Free Cash Flow of CHF 3,801 Million
2024 FREE CASH FLOW BRIDGE RECORD FREE CASH FLOW OF CHF 3’801 MILLION CHF m 219 -1'477 -928 -363 -327 6'677 Cash conversion of 57% 3'801 Free Cash Flow divided by Recurring EBITDA (after leases) Recurring Change in CapEx Income taxes paid Net financial expenses Others Free Cash Flow EBITDA after lea
Slide 26: CHF 2,570 Million Cash Returned to Shareholders
NET FINANCIAL DEBT CHF 2’570 MILLION CASH RETURNED TO SHAREHOLDERS IN 2024 CHF m 571 490 1'000 -3'801 1’570 164 558 8'448 7'896 CHF 2’570 million cash returned to shareholders Net Financial Debt Free Cash Flow Acquisitions & Non-controlling Group Share buyback Hybrid bond Others Net Financial Debt D
Slide 27: Double-Digit Growth in Dividends
DRIVING SHAREHOLDER VALUE DOUBLE-DIGIT GROWTH IN DIVIDENDS DIVIDEND PER SHARE up 11% vs 2023 in CHF • 11% increase in dividend vs 2023 to CHF 3.10 per share to be proposed at the AGM on 14 May 2025 •+12% a2 CAGR • Delivering superior shareholder returns with 12% annual growth in dividends since 2020
Slide 28: CHF 1 Bn Share Buyback Completed
DRIVING SHAREHOLDER VALUE CHF 1 BN SHARE BUYBACK COMPLETED ✓ Share buyback program initiated on 18 March 2024 and completed on 13 December 2024 ✓ 12.2 million shares representing 2.1% of total shares issued were repurchased for a total amount of CHF 1.0 billion at an average purchase price of CHF 81
Slide 29: Capital Allocation for Growth and Shareholder Returns
DRIVING SHAREHOLDER VALUE CAPITAL ALLOCATION FOR GROWTH AND SHAREHOLDER RETURNS 7 transformative acquisitions in CHF 8 bn cash returned to Solutions & Products and shareholders since 2018 via 93 accretive bolt-on acquisitions ~40% CHF ~35% progressive dividends Growth Returns to investments 33 bn sh
Slide 30: Outlook and Guidance 2025
03. OUTLOOK AND GUIDANCE 2025 MILJAN GUTOVIC | CEO Ellinikon, Athens, Greece built with ECOPlanet low-carbon cement
Slide 31: Update on Planned Listing of North American Business
UPDATE ON PLANNED LISTING OF NORTH AMERICAN BUSINESS ON TRACK FOR LISTING BY END OF H1 2025 Holcim is progressing on the planned full capital market separation of its $11B+ North American business, planned by way of a 100% spin-off, to be named Amrize Amrize to be listed on the New York Stock Exchan
Slide 32: Continued Profitable Growth and Strong Cash Generation
OUTLOOK AND GUIDANCE 2025 CONTINUED PROFITABLE GROWTH AND STRONG CASH GENERATION North America: Infrastructure modernization and reshoring of manufacturing to drive growth in 2025 Mid-single digit Net Sales growth in local currency Latin America: Public and private sectors to drive infrastructure an
Slide 33: Upcoming Events 2025
UPCOMING EVENTS 2025 25 MARCH Amrize Investor Day 28 MARCH Holcim Investor Day 25 APRIL Q1 2025 Trading Update 14 MAY Annual General Meeting 31 JULY Half Year 2025 Results 24 OCTOBER Q3 2025 Trading Update 33
Slide 34: Disclaimer
DISCLAIMER By accessing this presentation (and the information contained herein), you agree to be bound by and liable for breach of the following terms and conditions: The presentation (and the information contained herein) is provided to you by Holcim Ltd (“Holcim”) and/or any of its subsidiaries o
Slide 35: Holcim
HOLCIM